Seconds packager Y3S receives FCA authorisation

Business-Handshake-Finance-Deal-700.jpg

Second charge packager Y3S has received authorisation from the FCA.

The Cardiff-based packager has completed over £100m of loans this year, which it claims gives it a 12.5 per cent share of the market.

Chief executive Barney Drake says: “Our introducers use Y3S time and time again because for 14 years we have built a solid reputation for speed and efficiency in dealing with remortgage applications that, for whatever reason, have fallen out of bed.

“We welcome full authorisation and the imminent implementation of the MCD which will help to bring second charge loan products into the forefront of broker’s minds.  As a second charge can often be a better solution than a remortgage, this can only be a good thing for their clients.”

Recommended

Business-Handshake-Finance-Deal-700.jpg

Bank of Ireland continues to grow broker distribution

Bank of Ireland UK has added Pink to its panel as it continues to expand its intermediary distribution. The announcement come three weeks after the lender added Sesame to its panel. BoI re-entered the broker market under its own brand in December, first distributing through LSL estate agency subsidiaries Reeds Rains, Your Move and Embrace […]

Jackie Uhi Barclays scroller

Analysis: Times are good but we have more to do

With lending activity continuing to gather momentum, consumer confidence seemingly riding high and mortgage rates still close to historic lows, all appears rosy for UK lenders and borrowers alike. Now, who is expecting a ‘But…’ here? Well, there will always be some kind of ‘But…’. There is concern over China’s economy. Exactly how, and if, […]

Sellar_Graham_700.jpg
1

Santander starts instructing valuation on day application is received

Santander has moved to knock days off the application process by instructing the valuation on the day it receives a case where the product comes with a free valuation. Previously, a valuer would be instructed once a case has gone through the underwriting process. Santander head of business development for mortgages Graham Sellar says: “We […]

The curse of long-term cash

Trevor Greetham, Head of Multi Asset at Royal London Asset Management, reveals why clients should be seriously concerned when short-term holdings of cash turn into a long-term investment. There is nothing wrong with holding wealth in the form of cash on a short-term basis. For many people capital stability is important and access to ready cash […]

Newsletter

News and expert analysis straight to your inbox

Sign up